Servicing

Four major industry trade groups are urging Senate Judiciary Committee members to vote against a bill that allows U.S. bankruptcy courts to set up loss mitigation programs where homeowners and servicers can negotiate a loan modification.

Industry data showing delinquencies will continue to plague the mortgage market in the near future also indicate demand for short sales will go up motivating special servicing providers to get on gear.Most agree that specialized expertise—combined with effective borrower outreach and technology—are key in the success of a short sale transaction.

The volume of delinquencies and foreclosures continues to rise. How do you plan to keep up?Business process management solutions are efficient tools that enable servicers to gain control of processes and help increase efficiencies.

The Obama administration's proposals to support development of a covered bond market and limit large bank access to the Federal Home Loan Bank advance window could weaken the FHLB System, according to a new report from Moody's Investors Service.

Freddie Mac is making plans to price its third multifamily structured pass-through deal of the year.

Prestwick Mortgage Group is auctioning off a $21 million package of mortgage servicing rights backed by Fannie Mae loans in Missouri.

The online hacker group Anonymous has released internal emails from a former employee of a former Bank of America Corp. unit, allegedly showing how the unit tried to hide residential foreclosure information.

CoreLogic reports that the 27.9% of all U.S. homeowners with negative and near-negative equity mortgages are highly vulnerable to the 20% downpayment proposed by the Dodd-Frank Act.

Improvements in foreclosure activity while temporary and expected to wear off before yearend may lead to some stabilization.RealtyTrac February data show that in part due to processing moratoria, foreclosure activity decreased by 14% from the previous month and by 27% from February 2010 to a 36-month low.

Gramercy Capital Corp., New York, has received a one-month extension in the maturity date from lenders on $791 million in loans for a payment of $3.5 million.